Coinbase Joined The NFT Craze With Plans To Launch Its Own Marketplace

Coinbase joined the NFT craze with some more plans to launch its own marketplace and it became the next exchange to launch its own so let’s read more about it in our latest Coinbase news today.

The leading American crypto platform Coinbase joined the NFT craze as it said it will launch a peer-to-peer NFT marketplace called Coinbase NFT. The users can join the waitlist for early access and regular updates. In the recent blog post, one of the biggest digital asset exchanges revealed that it will enable customers to mint, showcase, purchase, and discover NFT on the new Coinbase NFT platform and to offered some more detail:

“We’re making NFTs more accessible by building user-friendly interfaces that put the complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery. And we’re going to grow the creator community exponentially, a win for artists and for fans.”

Coinbase noted that the initial launch will support ETH-based ERC-721 tokens while later on it also aims to bring on ERC-1155 standards with multi-chain support. The crypto exchange added that people have the desire to express their talent and their individuality so as such, the NFT tokens represent a universal way for the creators to control and own the benefits of their creations. As of this moment, the biggest digital marketplace for crypto collectibles and NFTs is OpenSea. This summer, the platform recorded a huge milestone and as it is trading volume hit $1 billion, it marked an increase of 1000% year on a yearly basis.

It is worth noting that another exchange FTX launched its non-fungible marketplace with the trading venue allowed only US customers to join in. Solana NFT marketplace also launched and has to be the new platform on the blockchain but FTX has plans to support ETH-based tokens in the near future which are the industry standard. A lot of celebrities, actors, and musicians as well as sportsmen, showed interest in the NFT space and introduced their own collection. FTX outlined that this trend will continue and raised hopes that the marketplace will be a top choice in the field:

“We decided to create an NFT marketplace on FTX US after becoming immersed ourselves in the NFT ecosystem. The NFT ecosystem has started to infiltrate pop culture, but has been lacking a platform that provides easy access and exposure to the mainstream audience.”